Is the Ballooning Billing Rate Ready to Pop?

Short of a seismic financial shock, hefty law firm billing rate increases are seemingly here to stay, much to the chagrin of clients and their general counsel. But that’s not to say that market conditions aren’t evolving to challenge the status quo of large rate increases — and in the words of one consultant advising corporate law departments, you don’t know you’re in a bubble until it pops.

6 minute read March 01, 2025 at 12:03 AM
By
Amanda O'Brien
Is the Ballooning Billing Rate Ready to Pop?

Short of a seismic financial shock, hefty law firm billing rate increases are seemingly here to stay, much to the chagrin of clients and their general counsel.

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